Journal Entry for Short-term Investment
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5. The following transactions were made by Waite Company. Assume all investments are short-term and are readily marketable.
June 2 Purchased 400 shares of Dolen Corporation common stock for $45 per share.
July 1 Purchased 200 Oslo Corporation bonds for $220,000.
30 Received a cash dividend of $2 per share from Dolen Corporation.
Sept.15 Sold 120 shares of Dolen Corporation stock for $50 per share.
Dec. 31 Received semiannual interest check for $11,000 from Oslo Corporation.
31 Received a cash dividend of $2 per share from Dolen Corporation
Journalize the transactions.
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Solution Summary
The solution provides journal entry for investments which are short-term and are readily marketable.
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